European Brokers Cut Fees On Spot Bitcoin ETFs
European brokers, including Invesco and WisdomTree, are cutting their spot Bitcoin ETF fees by over 60% on European BTC products, following the US Securities and Exchange Commission’s approval of spot Bitcoin ETFs from major players like BlackRock, Fidelity, and Invesco.
This has led to an unprecedented supply of new products for U.S. investors, who previously had to look to Canadian or European providers for exchange-traded exposure to the cryptocurrency.
In response to the changing landscape, WisdomTree and Invesco have taken proactive measures by cutting fees on their European-listed Bitcoin ETPs by over 60%.
WisdomTree’s Physical Bitcoin ETP fees will fall from 0.95% to 0.35%, while Invesco’s will drop from 0.99% to 0.39%. Both fee adjustments will take effect before the end of the month.
The SEC’s decision has boosted investor interest in cryptocurrency and positively impacted VanEck’s European business. Senior Investment Manager Peter Sleep noted that U.S.-listed products may be more attractive to European investors due to increased liquidity and a larger market.
HanETF CEO Hector McNeil emphasized the importance of spreads, tax, and custody in investment decisions, noting that U.S. ETF price wars have settled around 30 basis points, making it challenging for providers to be profitable unless they attract significant assets under management.
(With inputs from Shikha Singh)
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